Saudi Arabia hikes oil investments as it profits from price surge
Saudi Arabia’s state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it ...
Ukraine war opens diplomatic and energy opportunities for Qatar
Russia’s invasion of Ukraine has opened up diplomatic and commercial opportunities for gas exporter Qatar to expand energy sales to the West and bolster its alliance with Washington amid ...
Solar energy use among highest in Europe says Pilidou
Cyprus has work to do in order to accelerate its switch to greener forms of energy, but has already accomplished a fair amount, Energy Minister Natasa Pilidou said during a ...
Ukraine war: impact on oil & gas markets
The war in Ukraine could not have come at a worse time for the global economy. It has come at a time when the recovery from Covid-19 has begun to ...
Microsoft data centres to heat Finnish homes, cutting emissions
Finnish utility Fortum (FORTUM.HE) said on Thursday it will use waste heat from two new Microsoft (MSFT.O) data centres to warm homes and businesses in and around the ...
Oil surges after IEA warns of shortfall in supply
Oil prices climbed about 3 per cent on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products ...
Minister says developments expected soon on gas deposits
Developments are expected soon over the exploitation of Cyprus’ natural gas fields, given the large increase in natural gas prices internationally, Energy Minister Natasa Pilides said on Thursday.
Speaking to ...
Three million barrels of Russian oil, products could be shut in next month: IEA
Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the ...
Cabinet approves two new energy-saving grant schemes
Two new grant schemes were on Wednesday announced by the energy ministry totalling € 49 million, for the energy upgrade of small and medium enterprises (SMEs), non-profit organisations (NGOs), local government authorities ...
Shell directors may face lawsuit over climate transition plans
Environmental lawyers ClientEarth said on Tuesday they were preparing legal action against the directors of Shell (SHEL.L) over the company’s climate transition plan, in what they said would ...
As West shuns Moscow, officials say India eyes more cheap Russian oil
India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its ...
Oil falls 8 per cent on Russia-Ukraine talk hopes, China lockdowns
Oil prices dropped about 8 per cent on Monday to the lowest in two weeks, as diplomatic efforts between Ukraine and Russia looked like they might end their conflict, which would ...
Energy prices at the mercy of speculative money
By Yiannis Seitanides
The Cypriot and global economies are adversely affected by the high cost of energy, which fuels inflation, and solutions are being sought to mitigate the impact on ...
Oil falls on talks to end Ukraine war and ahead of Fed meeting
Oil prices shed as much as $4 a barrel on Monday, extending last week’s decline as diplomatic efforts to end the war in Ukraine geared up and markets braced for ...
Russia seeks Indian investment in its oil and gas sector
Russia urged India to deepen its investments in the sanction-hit country’s oil and gas sector, and is keen on expanding the sales networks of Russian companies in Asia’s ...
The energy transition has come forward; Cyprus must act now
In the aftermath of Russia’s invasion of Ukraine, European Commission (EC) President Ursula von der Leyen said “EU’s strategy for hydrogen and LNG will be intensified, along with ...
How much extra oil could OPEC+ pump to cool prices?
Saudi Arabia and the United Arab Emirates are among the few oil producers globally with spare capacity they could draw on quickly to increase output, help offset supply losses from ...
Germany discussed energy cooperation with Qatar
The German government, working to reduce its dependence on Russian oil and gas, discussed energy supplies with Qatar this week, the federal chancellery’s state secretary said on Saturday.
“We ...
Petrides concerned over energy, grain prices and stagflation
The rise in energy and grain price levels due to the war in Ukraine, but also the possibility of stagflation are his main concerns Finance Minister Constantinos Petrides said on ...
Global LNG demand growth shifts from Asia to Europe on Russia sanctions
Asia’s liquefied natural gas (LNG) demand growth may cool this year as buyers baulk at record-high spot prices pushed even higher by Europe’s shift to the super-chilled fuel ...
Britain will step up oil production after Russian import phase out
Britain will step up its production of oil and gas after saying it will ban Russian oil imports at the end of the year, transport minister Grant Shapps said on ...
Oil gains as spectre of sanctions on Russian oil spurs supply worry
Oil prices rose on Tuesday, with Brent surging past $127 a barrel, as the possibility of formal US sanctions against Russian oil exports spurred concerns about oversupply.
Benchmark Brent crude futures ...
What would a U.S. ban on Russian oil mean for the world?
The possibility that the United States might ban Russian oil imports has triggered a surge in Brent crude to almost $140 a barrel, its highest level since 2008.
Russia is the world’...
Sanctions fears push European gas prices to record highs
European and British wholesale gas prices hit unprecedented levels on Monday on escalating fears that Russian energy exports could face sanctions after Russia’s invasion of Ukraine.
U.S. Secretary ...